Observations and suggestions in closing out contract

Observations and suggestions in closing out contract

Observations and suggestions in closing out contract for large energy and natural resources projects

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Over the next 2 years, nearly $70 billion worth of contracts will be closed out on major capital infrastructure projects across Australia, a large portion of which is centred around the large LNG projects in central Queensland and on the North West Shelf in Western Australia.

The downturn in global energy markets has led to a situation where affected parties – joint venture partners, contractors, employees and all those affected by contract disputes – need to protect their reputations, retain margins and, in several instances, recover costs where projects are challenged economically.

Key topics

  • Issues observed that have impacted the closing out of contracts
  • Suggestions when closing out a contract
  • Lessons learnt

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